LCP aquires Grimsby’s largest retail park

Alexandra Retail Park, Grimsby‘s largest retail park, has been sold to commercial property and investment company LCP, part of European investment operation M Core.

The retail park formerly owned by Zurich Assurance Ltd has 560 parking spots, spans 125,695 sq ft and houses popular national brands like Matalan, SCS, The Food Warehouse, Argos, Pets at Home, and Poundstretcher.

The undisclosed transaction is part of LCP’s proactive approach to acquiring properties within shopping parades, centers, and retail parks across the nation.

James Buchanan, Managing Director of LCP Group, stated; “Our team is diligently seeking out sites with potential for value enhancement, offering tenants good value, providing a positive local shopping experience, and ensuring a solid return on our investment.”

Over the past year, M Core has invested over £160 million in 25 retail centers. Notable acquisitions include Cwmbran Centre, Cwmbran; The Galleries, Washington, Sunderland; and Three Spires in Lichfield. The firm remains active in the acquisitions market, with a budget of £300 million available for investments ranging from £500,000 to £30 million.

LCP has appointed agents Henry Phipps of Edgerley Simpson Howe and Duncan Wiley of PPH Commercial to oversee this venture.